Meta began the round of layoffs the company announced in March when it confirmed about 10,000 employees would be affected.
According to Engadget, the layoffs are focused on technical roles, such as software engineers, AR/VR game programmers, and user experience designers. Business positions (such as finance and legal) will be cut in May. In addition, other tech workers may be affected next month
CEO Mark Zuckerberg outlined a schedule of staff cuts after revealing the plan last month. In the fall of last year, Meta also laid off 11,000 employees. Zuckerberg describes 2023 as a “productive year” as the company narrows its focus and will theoretically outperform.
Meta’s two mass layoffs come as the company has to deal with the same tough economy as other Big Tech companies, as well as struggling to transition into the metaverse. The social media pioneer has continued to pour billions of dollars into the Reality Labs division responsible for virtual reality (VR) headsets and virtual platforms like Horizon Worlds, but has yet to deliver on revenue success. . In addition, ad revenue for Meta’s main social platforms declined in 2022.
The company’s outlook for the first quarter of 2023 suggests that the worst of the recession may be coming to an end. Meta’s business results will be published next week
